by Christine | Feb 21, 2013 | Art, Estate Law, Estate Plan, Estate Planning, Gift, Valuation |
So you have there is this really cool painting that you gave away. Do you want it to be worth a lot or a little? It depends on who you gave it to. Giving someone art rather than dollars can be complicated, especially when it comes to taxes and the IRS. So the...
by Christine | Feb 19, 2013 | Appraisal, Charitable Giving, Gift |
…Good intentions do not guarantee a charitable contribution deduction. By failing to properly account and document the contribution, however, the IRS and Tax Court [could] disallow the deduction. You may think that being eligible for the charitable tax deduction is as...
by Christine | Jan 21, 2013 | Art, Charitable Giving, Estate Planning, Gift |
The Brooklyn Museum seemed to have garnered a bonanza in 1932 when it received a large bequest from the estate of Col. Michael Friedsam, president of the elegant retail emporium B. Altman. But eight decades later … the museum potentially faces a hefty bill to store...
by Christine | Dec 25, 2012 | Estate Tax, Gift, Gift Tax |
Discussions of the looming fiscal cliff have paid scant attention to estate and gift taxes. But wealthy people might do well to consider being very generous this month and giving very large gifts at today’s bargain tax prices. While the estate and gift tax has been in...
by Christine | Oct 26, 2012 | 2012, Gift, Legacy Assets |
The problem is that few professional advisers understand the issues and opportunities surrounding the gifting of legacy assets, and even fewer owners of legacy assets are even aware that such planning is possible. Did you know 2013 is looming on the calendar as a huge...
by Christine | Sep 13, 2012 | Charitable Giving, Estate Law, Gift |
Warren Buffett celebrated his 82nd birthday last Thursday by announcing an additional $3.1 billion in donations to the charities run by his three children. Most of us spend our birthdays receiving gifts. In fact, that’s been the standard operating procedure...
